LEF Zero Interest Low Cost Mircoloans


LEF Zero Interest Low Cost Micro Loan

LEF offers Zero Interest Low Cost Micro Loans for any one who wishes to improve their credit scores, further education or start a micro business. 

How to apply

LEF Offers Zero Interest Low Cost Microloans

· Applicants must be at least 18 years old, have a steady source of income and demonstrate a need for the loan (i.e. emergency, education, medical bills, special needs etc). 

· Applicants must be a U.S. Citizen, Legal U.S. resident, such as citizenship, green card, work permit or White Card (No Visas).

· Applicants must be permanent residents of Los Angeles or Orange Counties. 

Frequently Asked Questions

Do I have to be Latino to apply for a Zero Interest Low Cost Loan?

No. LEF is a 501c3 non profit that lends to all communities.

What does permanent resident mean?

Borrowers must show proof of residence in the area of service at least 6 months and must have a valid California ID or driver license.

Am I required to have a good credit score?

No. Each loan is assessed on a case by case basis and verified by income. We do not check borrowers credit score. But we do report loans to credit bureaus to help unbankable people improve their credit scores to become bankable. 

Can I apply for more than one loan at a time?

LEF can only lend our one loan at a time per client. We can not provide more than one loan at a time. You may apply for multiple loans after each loan is repaid if your income permits.

Do I need a cosigner?


If I have a cosigner, can my wife/husband cosign for me?

Married couples are considered one borrower thus a spouse cannot cosign on a loan.

What is meant by Zero Interest Low Cost Loan?

Interest free means if you receive a loan from LEF, you pay back exactly the amount you borrower. Low Cost means there is an Administrative fee  which is 7% of principal or $90 for 1st loan whichever is less and 6% of principal or $75 for subsequent loans whichever is less.

How do I apply for a LEF Zero Interest Low Cost Micro Loan

Send an email to lefmicroloans@thelatinofund.org and a LEF representative will contact you.

What is the range of the loan?

Loan amounts vary. The maximum amount we offer is $2,500.00 but the average loan amount is $500 to $1,000.00. 

For more information about loan amounts please contact lefmicroloans@thelatinofund.org